Wills are those written documents we prepare for or on behalf of or by an individual for the completion of his/her business after he/she passes, setting forth who is to receive what assets of the estate. There are specific requirements for a will to be valid in the State of Tennessee, as in other states, and a review of your will should be done no less frequently than every year or two and any time that there is a change in the family situation or increase in the net worth of the party.

Trusts, on the other hand, are documents we prepare that pass title to property to a trustee, who manages the property in accordance with the terms of the trust document and for the benefit of a third party (spouse/children). Some trusts allow for the removal of assets from the estate to reduce the taxable impact of death on the estate while accomplishing the goals and objectives of the party drawing the trust.

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